Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Multi Asset
QMGIX Fund  USD 12.75  0.03  0.23%   
The correlation of Oppenheimer Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Oppenheimer Global Correlation With Market

Good diversification

The correlation between Oppenheimer Global Multi Asset and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Multi Asset and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oppenheimer Global Multi Asset. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Oppenheimer Mutual Fund

  0.71OSCNX Oppenheimer Main StreetPairCorr
  0.73OSCIX Oppenheimer Intl SmallPairCorr
  0.7OSCYX Oppenheimer Main StreetPairCorr
  0.64OSIIX Oppenheimer Global StrtgcPairCorr
  0.86OSINX Oppenheimer Strat IncmPairCorr
  0.68OSIYX Oppenheimer StrategicPairCorr
  0.85OSMNX Oppenheimer Intl SmallPairCorr
  0.86OSMYX Oppenheimer Intl SmallPairCorr
  0.76OSPAX Oppenheimer Steelpath MlpPairCorr
  0.8OSPSX Oppenheimer Steelpath MlpPairCorr
  0.95OSSIX Oppenheimer Main StreetPairCorr
  0.78OTCNX Oppenheimer Cap ApprecPairCorr
  0.84OTCYX Oppenheimer CapitalPairCorr
  0.76MLPOX Oppenheimer Steelpath MlpPairCorr
  0.66MLPZX Oppenheimer Steelpath MlpPairCorr
  0.98ODINX Oppenheimer DiscoveryPairCorr
  0.75ODIYX Oppenheimer DiscoveryPairCorr
  0.83ODVNX Oppenheimer DevelopingPairCorr
  0.71ODVYX Oppenheimer DevelopingPairCorr
  1.0QMGRX Oppenheimer GlobalPairCorr
  0.77QMGYX Oppenheimer GlobalPairCorr
  1.0QMGAX Oppenheimer GlobalPairCorr
  0.86QMGCX Oppenheimer GlobalPairCorr
  0.82CGRNX Oppenheimer ValuePairCorr
  0.95CGRYX Oppenheimer DisciplinedPairCorr
  0.97OEGYX Oppenhmr Discovery MidPairCorr
  0.97OEGIX Oppenhmr Discovery MidPairCorr
  0.76OEGNX Oppenhmr Discovery MidPairCorr
  0.8OEMIX Ophmr Eml DbtPairCorr
  0.71OEMNX Ophmr Eml DbtPairCorr
  0.79OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.64QOPYX Oppenheimer FlexiblePairCorr
  0.63QOPIX Oppenheimer FlexiblePairCorr
  0.45QOPNX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Global Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Oppenheimer Global's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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